Ukrainian crisis to have indirect impact on Armenian economy- ADB

YEREVAN, April 2. / ARKA /. The Ukrainian crisis will have an indirect impact on the Armenian economy, according to David Dole, the resident representative of the Asian Development Bank (ADB) in Armenia.

Speaking to reporters today, he said the events in Ukraine are having already a direct impact on the Russian economy, which according to the latest forest is set to decline. He said this in turn is going to have an indirect impact on the Armenian economy.

According to him, this negative impact will be felt first and foremost in terms of remittances sent by Armenian labor migrants working in the Russian Federation. On the other hand the demand for Armenian products in Russia is very likely to decline, he said.

He said the outlook is very vague, because new additional sanctions against Russia are possible and all this raises the uncertainty for the Armenian economy. M.M-0-